Equidyne to Distribute INJEX Through 250 Stop & Shop Pharmacies.
SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif.--(BW HealthWire)--Oct. 11, 2001
EQUIDYNE CORPORATION (AMEX AMEX
See: American Stock Exchange :IJX IJX Jacksonville, Illinois (Airport Code) ) announced today that the company has finalized an agreement with Royal Ahold NV and its subsidiary, the Stop & Shop Supermarket Company, to distribute and co-market the INJEX(TM) Needle-Free Drug Delivery System developed and manufactured by Equidyne, through approximately 250 Stop & Shop stores located throughout five states.
Stop & Shop is the largest food retailer in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , employing more than 60,000 associates and operating more than 319 stores throughout Connecticut, Massachusetts, New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey and Rhode Island Rhode Island, island, United States
Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. . Its parent company, Royal Ahold NV, based in the Netherlands, is one of the largest food retailers in the world with supermarket companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Asia and annual sales of US$35 billion.
"This agreement represents a major step toward expanding our retail distribution of INJEX(TM) in the U.S. diabetes market," said Dr. James Gavin James Gavin may refer to either of the following:
Under the agreement, Super Stop & Shop locations with retail pharmacies will stock the INJEX(TM) product line in their stores. The stores also will participate in a program to promote INJEX(TM) during National Diabetes Month. The stores will host approximately 20 Diabetes Awareness Programs on Saturdays in October and November in stores located in Massachusetts, Connecticut and Rhode Island.
"By making the INJEX(TM) Needle-Free Delivery System available at Stop & Shop Pharmacies, we will be providing our diabetes customers, who may be uncomfortable with needle injections of insulin, the opportunity to try this clinically proven product," stated Andy Olem, R.Ph., Diabetes Care Coordinator at Stop & Shop.
As part of Stop & Shop's continuing efforts to support people with diabetes, in-store programs such as diabetes food and pharmacy tours, diabetes alert day screenings and diabetes care days are offered regularly to educate people with diabetes on managing and controlling their disease.
The INJEX(TM) product line for the diabetes market consists of the INJEX(TM) 30 Needle Free Injector, single-use disposable Ampules, and Vial Adapters that fit on standard insulin vials. Instead of using a needle, INJEX(TM) propels a fine stream of insulin through a tiny opening at the end of a disposable ampule ampule /am·pule/ (am´pul) a small glass or plastic container capable of being sealed so as to preserve its contents in a sterile condition; used principally for sterile parenteral solutions. . The pressure gently pushes the insulin into the tissue under the skin. INJEX(TM) is clinically proven to deliver commonly prescribed insulins safely and just as effectively as conventional needle injections, but without the use of needles.
Equidyne Corporation (www.equidyne.com), through Equidyne Systems, Inc., a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. based in San Diego, is focused on becoming the worldwide leader in needle-free drug delivery systems for subcutaneous and intramuscular injections. The FDA-approved INJEX(TM) needle-free injector is a compact, uncomplicated device that delivers a virtually painless injection through the skin in a fraction of a second, and eliminates needle stick and disposal problems. The INJEX(TM) system is a comfortable, economical alternative to delivering medications using conventional needle injections.
The statements contained in this news release that are not purely historical are forward-looking statements that may involve risks and uncertainties. The Company's actual results may differ significantly from the results contained in the forward-looking statements. Factors that might cause such differences include, but are not limited to, risks associated with excess or obsolete inventory Obsolete Inventory
Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company. ; the potential impairment of assets; delays in product introductions; changes in healthcare regulations and the ability to obtain favorable insurance reimbursement coverage for the Company's products; product acceptance or changes in government regulation of the Company's products; the Company's ability to manufacture its products in sufficient quantities to meet the demands of the marketplace; the Company's dependence on key customers and suppliers and their financial viability; the impact of competition; the Company's ability to effectively manage growth; the effect of losses and other factors on the Company's business and results of operations; and the Company's capital resources and its ability to fulfill its existing obligations and ongoing capital needs. These and other risk factors are discussed in the Company's filings on Forms 8-K, 10-QSB and 10-KSB.